European leaders have been urged to put aside opposition to Russia’s dominance in the European gas market and take advantage of cheap imports to safeguard struggling industrial sectors against the rising cost of energy. The European Commission is taking steps to create new powers to vet EU energy deals between third party countries such as Russia to protect the EU against the risk of a massive supply disruption due to political tensions between Russia and neighbouring Ukraine. But a panel of leading energy experts, including executives at Shell, BP and Vitol, rubbished concerns over energy deals with the gas-rich country, saying it offered a stable and reliable source of gas.
Telegraph 22nd June 2016 read more »